Unparalleled income opportunity

With a combined rental income of $68,000 per year thanks to three separate dwellings, investment properties like these don’t come around often.

With a standalone bungalow and twobedroom duplex units set on a 1011sqm flat section, there are plenty of living and income opportunities here. The bungalow and units are set on separate cross-lease titles, so the choice is yours: Buy one (the bungalow), buy two (the units) or buy three (the bungalow and units together).

Soon to be set in a mixed housing/ urban zone, this is an attractive option for developers or those looking for a land bank for future gains. Or live in the main house and subsidise the mortgage by renting out the units. The main house, a 1930s bungalow, has been significantly modernised with a renovated kitchen and bathroom, as well as new carpets and electrical wiring. Keep warm in winter thanks to new under-floor and ceiling insulation, a heat pump and electric fireplace. In summer, enjoy outdoor entertaining on the modern deck. Inside, there are two bedrooms, a spacious formal lounge and separate living area and outside, an additional storage room and free-standing carport.

The duplex units, built in the ‘90s have also been brought into the 21st century with renovated bathrooms and double glazing for the bedrooms. These sturdy fibre, cement and weatherboard units have two bedrooms each, plus an openplan living/kitchen area, bathroom, separate laundry, sunny deck and enclosed garage for each flat. Current owners Peggy and Malcolm say the lock-up-and-go, easy-care nature of the units is well-suited to young couples. Peggy and Malcolm have never had a problem renting out any of the three homes. “In the 25 years we’ve owned these, we haven’t had many tenants, because they all stayed so long,” says Peggy. She puts this down to the quality of the homes, as well as the convenient location. Right in the hart of Manurewa, Halsey Road is close to shopping centres, restaurants and numerous popular leisure facilities. The bungalow’s proximity to excellent schools and a choice of two public transport hub make it a good choice for young families, Peggy says.

“We bought the three properties in 1993 to have something to sell in our retirement, and now we’re retiring and cashing up” says Peggy. “This is what we were advised to do back then, and it’s worked out favourably for us. In another 20 years’ time, this property can do the same for someone else.” Ready for to make the most of this rare investment opportunity? Contact Babu George today.